The rupee moved both ways against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee was inert versus the dollar for buying at Rs 133.98 while the national currency gained three paisas for selling and Rs 134.00, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee was down by 20 paisas in relation to the dollar for buying and selling at Rs 134.00 and Rs 134.50 respectively, they said. The domestic currency lost 70 paisas in terms of the euro for buying and selling at Rs 151.00 and Rs 153.00 respectively.
In the third Asian trade, the euro and sterling climbed higher on Wednesday as investor confidence rose on news Britain had struck a draft divorce deal with the European Union after more than a year of talks.
The rise in the euro and sterling led investors to take profits on the US dollar, which has retraced from a 16-month high.
The dollar index, a gauge of its value versus six major peers, traded at 97.05 on Wednesday, down 0.26 percent. The index hit a 16-month high of 97.69 on Monday.
The sell-off in the dollar has been due to the improved risk sentiment around a potential Brexit deal and not because of any deterioration in the fundamentals of the US economy. The euro and sterling constitute around 70 percent of the weight in the dollar index.
The dollar was trading against the Indian rupee at Rs 72.083, the greenback was available at 4.190 in terms of the Malaysian ringgit and the US currency was at 6.948 versus the Chinese yuan.
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Open Bid Rs.134.00
Open Offer Rs.134.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.133.98
Offer Rate Rs.134.00
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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend against the greenback in the local currency market on Wednesday.
According to currency dealers, the greenback continued to fluctuate throughout the trading session amid divergent trend of buyers in the market. At close of trading, it ended for buying and selling at Rs 133.40 and Rs 134.70 against the overnight closing trend of Rs 133.80 and Rs 134.50 respectively, they added.
The national currency, however, continued weakness for another against pound sterling. The pound's buying and selling rates further rose from Tuesday's closing of Rs 171.70 and Rs 173.40 to Rs 172.20 and Rs 173.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 134 (buying) and Rs 134.10 (selling) against last rate of Rs 133.90 (buying) and Rs 134 (selling). It closed at Rs 134 (buying) and Rs 134.10 (selling).
The buying and selling rates of gold were Rs 60,946 (selling) and Rs 60,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
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